Mediclinic Profit Climbs on Swiss, Middle East Hospital Growth - Bloomberg Business

Mediclinic Profit Climbs on Swiss, Middle East Hospital Growth - Bloomberg Business:

"Mediclinic International Ltd., South Africa’s largest private-hospital owner which has agreed to combine with Al Noor Hospitals Group Plc of Abu Dhabi, said first-half profit increased 12 percent as the Switzerland and Middle East units grew and the company benefited from converting earnings in those regions into rand.
Net income advanced to 1.87 billion rand ($132 million) in the six months through September, compared with 1.67 billion rand a year earlier, the Stellenbosch-based company said in a statement on Thursday. Sales gained 16 percent to 19.6 billion rand, while the first-half dividend was raised 16 percent to 36 cents a share.
“We are continuing to see a strong demand for quality private healthcare services in our three operating platforms” in Southern Africa, the Middle East and Switzerland,” Chief Executive Officer Danie Meintjes said in the statement. “The trend is also prevalent in the U.K.,” where Mediclinic bought almost 30 percent of Spire Healthcare Group Plc for
431.7 million pounds ($657 million) this year."



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